I am hoping to complete my purchase in West Hendon next Friday. My conveyancing practitioner now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not limited to conveyancing in West Hendon.
We are buying a flat in West Hendon. I might seem paranoid but how we can trust a conveyancer? On completion day we will need to deposit funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have paid off my mortgage with Barclays. I assume I don't need a West Hendon conveyancer on the Barclays panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
Bank of Ireland have agreed my mortgage in principle, my offer on a property in West Hendon has been agreed to, what are the next steps?
Your estate agent will want to be advised as to your lawyer's details (ensure that the property lawyers are on the bank’s approved list). Contact Bank of Ireland or your financial adviser and complete any appropriate documentation. Bank of Ireland will instruct a valuer who will get in contact with the selling agent or vendor to arrange a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Bank of Ireland will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in West Hendon.
I am purchasing my first flat in West Hendon with a mortgage from National Westminster Bank. The developers would not budge the amount so I negotiated five thousand pounds worth of extras instead. The estate agent told me not inform my lawyer about this side-deal as it will adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What makes your site different to other web based conveyancing solicitors for conveyancing in West Hendon?
At this site get a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in West Hendon. Unlike many estate agents and brokerage sites we are not in the business of charging firms a commission if you choose them for your property ownership legalities in West Hendon
My husband and I are FTB’s - had an offer accepted, but the selling agent has warned us that the owners will only issue a contract if we use their preferred solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a local conveyancer with experience of conveyancing in West Hendon
We suspect that the owner is not behind this request. Should the seller want ‘a quick sale', turning down a genuine buyer is counter productive. Try to communicate with the sellers directly and make sure they understand (a)you are motivated purchasers (b)you are ready to progress, with finances arranged © you are chain free (d) you intend to proceed fast (e)however you will continue to instruct your own,trusted West Hendon conveyancing firm - as opposed tothe ones that will provide their estate agent a introducer fee or meet his conveyancing targets demanded by senior management.
Can you offer any advice when it comes to choosing a West Hendon conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a West Hendon conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non West Hendon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:
-
How many lease extensions has the firm carried out in West Hendon in the last twenty four months? How familiar is the practice with lease extension legislation?
Following years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in West Hendon. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.
An example of a Lease Extension case for a West Hendon flat is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case related to 1 flat. The unexpired term as at the valuation date was 71 years.